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US House passes GENIUS stablecoin bill, awaits Trump’s signature
The United States House of Representatives has passed the GENIUS Act, a comprehensive regulatory framework aimed at establishing national oversight for payment stablecoins. The bill now moves to President Donald Trump’s desk and is expected to be signed into law as early as Friday.
Despite internal disputes over language in the anti-Central Bank Digital Currency (CBDC) bill stalling momentum just yesterday, lawmakers have successfully advanced a package of three major crypto bills, including the GENIUS Act. This historic move marks a significant step towards providing much-needed clarity for issuers, investors, and regulators in the $264 billion stablecoin market.
The passage of this legislation comes following President Trump’s public call to action on Truth Social, urging lawmakers to “get it to my desk, ASAP — NO DELAYS, NO ADD ONS.” This demand prompted the House to abandon its plans to reconcile the GENIUS Act with the STABLE Act and instead focus on passing the bill in its current form.
The White House has already scheduled a signing ceremony for industry leaders and lawmakers for tomorrow at 2:30 PM EST.
Source: cryptobriefing.com
